Investment

Vietnam's economic growth in 2014 is estimated at 5.98%, up from the 5.4% rate last year, as the economy is being strongly boosted by a buoyant manufacturing sector, the General Statistics Office (GSO) has announced.

Vietnam's agricultural sector grew by 3.3% in 2014 and targets a growth of 3-3.3% in its gross domestic production (GDP) next year, announced the Ministry of Agriculture and Rural Development on December 26.

The retail price of 92-octane (RON 92) gasoline was decreased by 2,050 VND per litre as of 3pm on December 22, announced State-owned Vietnam National Petroleum Group (Petrolimex).

Vietnam will reach US$7.9 billion in seafood exports for 2014 due to high growth in key products.

The country has 516 effective FDI projects in agro-forestry-fisheries sectors with a total registered capital of US$3.6 billion, accounting for 3% of all projects and nearly 1.5% of the total registered capital.

To further attract investment into provincial industrial parks, Ninh Binh is focusing on administrative reform and investment incentive provision, said Deputy Head of Ninh Binh's Industrial Park Management Board Vu Hoai Chuong at an interview with VEN.

The interest rates on Vietnamese dong credits and deposits slashed by 1.5-2 percent over the previous year, helping remove difficulties for businesses, curb inflation and stabilise the monetary market.

In November, Vietnam had 7,767 new enterprises established with a total registered capital of VND38.8 trillion, a 13.7% rise in number of enterprise and a 20.8% increase in capital from the prior month, according to the General Statistics Office (GSO).

Vietnam exported 5.55 million tonnes of rice worth 2.56 billion USD in the first 11 months of 2014, according to the Vietnam Food Association (VFA).

Vietnam topped the list of 20 countries awarded Asia's most attractive nation for manufacturing at the "Top Asia corporate ball 2014" held in Kuala Lumpur, Malaysia on November 22nd.

The Diplomatic Society of South Africa recently ran an article about Vietnam's attractiveness to foreign investors. Here is the full text of the article.

The northern province of Ninh Binh's export turnover amounted to 654 million in the first 10 months of 2014, a year-on-year rise of 34 percent, according to the provincial Department of Industry and Trade.

The State budget revenue in the January-October period has recorded over VND719.4 trillion (US$33.8 billion), equivalent to 91.9% of the 2014 target and up 15.2% over the same period in 2013, the Ministry of Finance has reported.

Vietnam's index of industrial production (IIP) for January-October increased by 6.9% over the same period last year, fuelled by a growth in almost all areas.

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Disbursement of foreign direct investments (FDI) posted an encouraging 5.9-percent increase to 10.15 billion USD in the first 10 months of 2014.

Minister of Agriculture and Rural Development Cao Duc Phat has forecast that the sector's export revenues will reach the threshold of US$30 billion in 2014.

As many as 53,192 new businesses have been set up in the first nine months of 2014 with a total registered capital of over 320 trillion VND (15.2 billion USD), up 13.9% in terms of capital compared to last year

The United Nations Food and Agriculture Organisation (FAO) has predicted that Vietnam's rice exports would increase by six percent year-on-year to 6.9 million tonnes in 2014.